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The RLFs are targeted for the purchase of equipment. The objectives of the program are private sector job creation and capital formation for expansion or start-up projects. The RLFs feature below-market interest rates, filling financial gaps, and leveraging private sector funds. Requirements vary among funds.

The SBA 504 Loan Program is the Small Business Administration's economic development financing program that helps American small businesses grow while benefiting communities through tax base expansion, business growth, and job creation. Loan are available for all types of small, for-profit businesses to purchase and/or renovate capital assets including land, buildings, and equipment.

The Iowa Economic Development Authority (IEDA) offers a variety of programs and services to individuals, communities, and businesses to attract and grow business, employment, and workforce in Iowa. Ground-breaking economic growth strategies focusing on cultivating start-up companies, and helping existing companies become more innovative complement the activities underway to retain and attract companies that are creating jobs for Iowans. Developing sustainable, adaptable communities ready for this growth is also an essential part of our work at IEDA, providing programs and resources that help communities reinvest, recover, and revitalize to make each community's vision a reality. Much of what you know about Iowa is true. It's what you don't know that sets us apart.

The mission of the Iowa Small Business Development Center is to have a positive impact on the economy of the State of Iowa and its communities. We do this by providing the highest quality assistance to current and future businesses and by collaborating with other federal, state, local and private resources to ensure maximum benefit to clients. The Iowa Small Business Development Center (SBDC) conducts research, counsels, and trains business people in management, financing, and operating small businesses, and provides comprehensive information service and access to experts in a variety of fields.

SCORE, mentors to America's small businesses, is a non-profit association dedicated to educating entrepreneurs and helping small businesses start, grow, and succeed nationwide. SCORE is a resource partner with the US Small Business Administration (SBA). SCORE offers advice online and in-person at its 364 offices nationwide. SCORE Dubuque is housed at the Dubuque Area Chamber of Commerce.

Greater Dubuque Development is committed to the success of existing businesses. Greater Dubuque staff work with area businesses of all sizes and sectors to assist with their challenges and opportunities. Personal, detailed attention to the needs of area employers is the hallmark of the mission of Greater Dubuque Development.

The ISB Loan Program aids Iowa entrepreneurs and Iowa small businesses in their efforts to (1) upgrade or modernize equipment, (2) realize additional efficiencies in their supply chains, (3) improve their distribution and transportation margins, (4) reduce facility costs through increased energy efficiency, and (5) leverage other sources of business financing.

Small businesses that are located in Iowa, are owned, operated, and actively managed by an Iowa resident, and have 35 or fewer full-time equivalent employees are eligible to apply to the ISB Loan Program. Eligible businesses must also have a business plan and receive assistance from an Iowa Small Business Development Center or another qualified public or nonprofit business consultant approved by the Iowa Department of Economic Development.

The SBA 504 Loan Program is the Small Business Administration's (SBA) economic development financing program that helps American small businesses grow while benefiting communities through tax base expansion, business growth, and job creation. Loan are available for all types of small, for-profit businesses to purchase and/or renovate capital assets including land, buildings, and equipment.

A small business is defined as having a net worth under $15 million and net annual profit under $5 million with some exceptions

Eligible Projects

Fixed-asset acquisition or expansion including:

• Purchase of land and/or construction of new buildings
• Purchase and/or renovation of existing buildings
• Acquisition/installation or machinery
• Construction and/or remodeling of buildings on leased land>

 

Advantages

Low down payment - as little as 10%. Allows small business owner to preserve critical working capital
Long term - SBA 504 loans are for 10 to 20 years. Because the CDC is in a second lien position, the bank or other lender providing the 50% first line loan is willing to lend for a longer term.
Fixed, low interest rate - The mortgage payment amount is fixed for 10 or 20 years. No worries about prime lending rate going up. Even with fees and closing costs included in the rate, it is still a low rate for a subordinate mortgage loan, particularly for a small business.

Lending Parameters

$50,000 minimum loan amount
No maximum project size; $5 million maximum loan amount
If business is a manufacturer or energy-related project, $5.5 million maximum loan amount

Typical 504 Loan Structure

Entity	Loan Amount	% of Project	Security
Lender	$500,0000	50%	1st Deed of Trust
CDC/SBA	$400,000+fees	40%	2nd Deed of Trust
Borrower	$100,000	10%
Total	$1,000,000	100%

Click Here to Download PDF Brochure

Click Here to Download Loan Application Checklist

The Community/Economic Development Revolving Loan Fund (RLF) was created to improve the quality of life in rural areas by contributing to long-term improvement in the local economy. The RLF is a local funding source with a goal of providing low interest loans to assist with local economic and community development projects.

Maquoketa Valley Electric Cooperative works closely with local, regional, and state economic development professionals to ensure our member businesses and potential businesses receive the information and assistance they need to locate, grow, and prosper within our service area in east central Iowa. For personal attention to your project, contact Patty Manuel, Director of Business Development, at pmanuel@mvec.coop or 800-927-6068.

Business Support

Through powerful partnerships, we can provide assistance with site selection, feasibility studies, business plans, financial packaging, utilities, taxes, regulating, permitting, and much more. Visit these sites for more information on some of the resources at our fingertips.

 

• Iowa Source Link (iasourcelink.com)
• Iowa Area Development Group (iadg.com)
• Prosperity Eastern Iowa (prosperityeasterniowa.org)
• Iowa Economic Development Authority (iowaeconomicdevelopment.com)
• Central Iowa Power Cooperative (cipco.net)
• Questline (24-hour Ask-An-Expert Hotline Services) (members.questline.com)
• ISU Center for Industrial Research and Service (www.ciras.iastate.edu)

 

Electric Energy

Maquoketa Valley Electric Cooperative prides itself on reliable service. During the past year, our members were on line 99.99% of the time. When power outages do occur, local linemen and state-of-the-art technology allow us to restore service quickly. As a member-owned cooperative, our rates are priced fairly and equitably with a focus on service rather than profit. Margins are returned to member-owners through patronage dividends.